Xinhua News (China's Official News Agency): After the ICO ban, mainstream cryptos have declined more than 70% in price. However, Chinese investors can still buy ICO tokens easily, by first using RMB, China's fiat currency, to buy BTC/USDT with over-the-counter trading platforms.

In 5 popular trading platforms including Binance and OKEX, 264 diffirent ICO tokens were identified. 98.8% of those tokens are currently cheaper than the ICO price. Chinese 'Self-media' (Wechat publishers by individual users) plays vital role in the price manipulations.

Many ICO projects are disguising themselves as blockchain innovations. But in actuality they are worthless scam coins. "Develop token-less blockchain projects is no doubt both compliant and promising", says YH Guo, Chairman of Chinese Blockchain Application Research Center.